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Real Estate Prices to Appreciate by 10% Soon
| December 8, 2006 |  (Be the first to rate this story!) Loading ... |
Real estate sector in India is witnessing strapping demand across key sectors such as commercial, residential, retail, and hospitality. As the tech boom spreading across the country, the property prices in India are rising fast, as there is no next day. With such a scenario, this overheated market is not likely to cool down soon.
Indeed, the real estate prices in India are expected to further escalate by another 5% to 10% in the next few approaching months, as learnt from the data showcased by the property surveys conducted on the sidelines of the IQPC conference held in Mumbai. With mushrooming demand in this sector, around 80 million dwelling units have lined up to take shape in next 10 years, says Ambar Maheshwari, director (investment advisory), DTZ India.
Market analysts also points out a considerable increase in the cost of funds in future. However, its effect on the unprecedented growth of the market cannot be forecasted yet as RBI’s recent intrusions are likely to bridle in speculation rather than hold back the growth.
Mr. Maheswari further adds that such a demand for real estate in India is further fuelled by the emergence of some of its metros like Bangalore and NCR as IT hub as well as a retail destination in recent years. Interestingly, the residential sector is not supposed to be the main driver individually in these fast flourishing places. It clearly underlines the fact that that Tier II and III cities which have great untapped real estate potential, shall be driven by the residential segment in coming few years.
Analysts project little price corrections in some areas of mature real estate hubs. Most survey participants including private equity players, construction companies, and investment bankers hold the same view regarding real estate market surging record high. However, it is weighed down with information asymmetry as information dissemination is constrained and not regulatory mandated, unlike in capital markets.
News Published Under: Real Estate India, Delhi, Bangalore |
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